In February, Citi announced its Blueprint for Housing Opportunity initiative — a $60 billion five-year housing affordability commitment dedicated to increasing the supply of housing through the creation and preservation of at least 250,000 units across the U.S. In addition, the Citi Foundation will deploy $50 million in philanthropic grants to non-profits addressing housing challenges and supporting the financial health of residents in their communities, starting with a $1 million grant to support the Center for Affordable Housing Lending.

“Housing affordability is one of the defining economic challenges of our time, and increasing supply is essential to addressing it,” said Jane Fraser, chair of the board and chief executive officer of Citi. “By expanding the amount of financing we provide for affordable housing, we open possibilities for prosperity, helping more Americans secure housing they can truly afford. When people spend less on housing, they have more to invest in their families and futures.”

As the No. 1 affordable housing lender in the U.S. for 15 consecutive years according to Affordable Housing Finance magazine, Citi recognizes that housing is a foundational element of economic well-being and community stability. Citi Community Capital (CCC), which is responsible for the vast majority of Citi’s activity in this space, financed more than $32 billion in affordable multifamily housing lending over the past five years. This includes $7.6 billion in 2025, which helped create and preserve over 35,000 units across more than 30 states.

Together, Citi and the Citi Foundation are committing to:

• Finance $60 billion in capital over five years for the acquisition, construction, rehabilitation and permanent long-term financing of a broad range of affordable housing types, including homes for essential workers, developments with supportive services and lower‑cost rental options in expensive markets.
• Deploy $50 million in Citi Foundation philanthropic grants to non-profits addressing local housing challenges, supporting the financial health of residents and investing in research that helps identify scalable solutions.
• Provide continued support for innovative for-profit companies tackling housing access and affordability challenges through the Citi Impact Fund.
• Advance public policy and advocacy efforts that help enhance supply, such as the Low-Income Housing Tax Credit program.

This commitment builds on Citi’s extensive track record of putting its capital, community impact and expertise toward improving housing affordability. It complements Citi’s financial health resources, including affordable mortgage programs, homebuyer education, and products and services that help homebuyers strengthen credit scores and increase savings. Citi also leverages research to inform solutions to housing affordability challenges, such as its recent analysis of the “mortgage lock‑in” effect and its impact on mobility and housing supply.

“The causes for the shortage of quality, affordable housing are complicated but ultimately come down to the imbalance of supply and demand. Increasing supply is where our financial capabilities can make the greatest impact, and, through this commitment, we are significantly increasing the capital we are putting to work,” said Edward Skyler, head of enterprise services and public affairs and chair of the Citi Foundation. “We also recognize that housing is a critical building block for financial progress. That’s why we’re also providing philanthropic support to help people access the financial tools, services and opportunities they need for economic and housing security.”

Financial Capital

Financing affordable housing can be complex. Rising construction and operating costs often create additional challenges for lenders and developers. With this commitment, Citi will deploy its financial capital to help leading developers and government entities build and preserve affordable units for Americans.

Citi has supported affordable multifamily housing for decades by providing equity, acquisition and construction loans, and permanent financing, along with structuring expertise. Citi’s partnerships with for-profit developers, local governments, community development finance institutions and other non-profit developers have been critical to these efforts, reflecting a deep commitment to strengthening communities across the country.

“Housing gets built when there’s certainty of capital, clarity of execution and partners who stay the course,” said Rafael E. Cestero, chief executive officer of the Community Preservation Corporation (CPC). “That’s where market-based solutions led by institutions like Citi make a difference. As a mission-driven organization focused on leveraging capital to strengthen communities, CPC understands that with the right financial partners, developers not only can move quickly from acquisition to completion but also keep affordability front and center.”

Community Impact

Access alone does not ensure lasting housing stability — investing in residents’ overall financial resilience is a critical piece of the puzzle. For over 30 years, the Citi Foundation has worked to catalyze economic opportunity for households and communities through grants to non-profit innovators, including those addressing housing supply challenges.

Citi Foundation has also announced a $1 million grant to the Center for Affordable Housing Lending, the non-profit research partner to the National Association of Affordable Housing Lenders (NAAHL). This grant will help establish the Housing Supply Research & Fellowship Program to address top-of-mind challenges for policymakers and the housing finance community.

“Affordable housing is one of the most pressing challenges facing communities across the country. Solving this problem requires investment in research, innovation and mission-focused solutions,” said Sarah Brundage, president and CEO of NAAHL and the Center for Affordable Housing Lending. “Citi and Citi Foundation’s long track record reflects a commitment to finding tools that work and matching scale with on-the-ground expertise. Citi Foundation’s catalytic support will enable the Center to meet the moment and advance impactful solutions for affordable housing.”

Expertise and Advocacy

We recognize that making housing more affordable for American families cannot be achieved by the private sector alone — successful progress toward this goal will require the public, private and non-profit sectors working together.

Policymakers across the political spectrum are focused on addressing housing affordability and increasing supply, but more action is needed. One program with significant support is the Low-Income Housing Tax Credit (LIHTC), which has successfully boosted affordable housing supply for nearly 40 years and was recently expanded by the One Big Beautiful Bill Act. While this improvement was welcomed, Citi believes there is an opportunity to help the credit go even further for American communities and families. For example, enhancing the liquidity of LIHTC to outside investors would encourage greater investment in affordable housing projects.

Citi remains committed to working with policymakers, relevant stakeholders and others to ensure continued improvement in housing affordability for individuals and families across the country.

For more information on Citi’s commitment, visit the Blueprint for Housing Opportunity website.